Latest Key Developments (Source: Significant Developments)

ConocoPhillips:A U.S. bankruptcy judge on Friday approved a settlement that clears the way for payments to victims of Canada's Lac-Megantic crude-by-rail derailment, according to the trustee for the insolvent railway at the heart of the disaster - Reuters.The approval came after Canadian Pacific Railway Ltd withdrew its objections to the plan, said trustee Bob Keach - Reuters.He is aiming to have the settlement funds, some C$445 million ($345 million), paid out by the end of this year - Reuters.Forty-seven people were killed on July 6, 2013, when a Montreal, Maine & Atlantic railway train carrying Bakken oil derailed and exploded in the heart of the Quebec town of Lac-Megantic - Reuters.Parties previously named in a class action lawsuit, including closely held Irving Oil, General Electric, Shell Oil Co, ConocoPhillips, Marathon Oil and others, agreed to contribute to the compensation fund for victims of the explosion - Reuters.CP Rail, which transported the oil tank cars involved in the accident to Montreal before handing them over to Montreal, Maine & Atlantic, has not contributed to the settlement. The railway has long argued that it is not responsible for what happened after it handed over the cars - Reuters.Keach said the compromise clarified that if there is a judgment against CP in the future, any financial penalty would be reduced based on what ha already been paid under the settlement agreement - Reuters.
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ConocoPhillips:Which has already cut 1,000 jobs this year, says it will eliminate around 1,810 more positions following a plunge that took oil prices to their lowest levels in years - The Associated Press.It is eliminating 10 per cent of its workforce, The biggest proportion of the job cuts will be in North America, ConocoPhillips plans to eliminate more than 500 jobs in Houston, where it is based - The Associated Press.
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ConocoPhillips:Says that it is on track to achieve higher end of its FY 2015 production target of 2 pct. to 3 pct. growth compared with FY 2014 production from continuing operations, excluding Libya.Expects Q3 2015 production, excluding Libya, to be 1,510 to 1,550 MBOED, which reflects planned turnaround activity during the quarter.
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ConocoPhillips:Expects to deliver 2 to 3 pct production growth in FY 2015 from continuing operations, excluding Libya.Expects Q1 2015 production from continuing operations to be 1,570 to 1,610 MBOED, which excludes Libya.
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OSLO, Nov 25 Norway's oil and energy ministry
has approved a hike in the 2016 oil output quota of the North
Sea Troll field to 46.5 million barrels from 41.7 million,
giving it the highest output level since 2009, documents
obtained by Reuters showed on Friday.

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